💥💥Seeing that the community is sharing a lot about the "falling wedge model" as shown below.
In fact, the token charts that follow this model are all new projects listed in 2024, and are being... flooded with numbers like $ALT , $STRK or $W 😅😅😅
🤔According to my experience, the falling wedge pattern, when confirmed, will give great profit prospects. However, you need to note the following 2 points:
👉First: IT IS NOT EASY TO CATCH THE PATTERN BREAK POSITION!
I encountered many cases where the price touched the upper edge of the wedge, but was knocked down and continued to decline. What's worse is the price fakes a breakout, allowing you to rush in long or chase it, then dump it back inside the wedge.
It only takes a few times to mistakenly catch a fake breakout like that, and you will be bitten by your stoploss and lose your capital.
👉Second: NOT EVERY MODEL BREAK MEANS THE PRICE WILL INCREASE
There are no shortage of cases where after breaking the upper edge of the wedge, the price only increases very slightly, then sideways for a long time at the bottom.
At that time, although the price did not fall back into the wedge, it also did not go as expected.
💵In short, this falling wedge model has a high winning rate, but you should not absolutely believe in it. Combine some other indicators as well, or buy based on the project's valuation.
What do you think about this falling wedge model? And has anyone ever won a trade using this model?? 😁😁😁
